Faysal Bank Car Loan Eligibility Criteria

Faysal Bank offers “AutoCash” (Car Loan Financing) which supports the small scale, medium and large scale businessmen. Additionally, in order to fulfill the desire of salaried individuals to have their own car, Faysal Bank helps them to purchase local, imported brand new or used vehicles at a very minimum requirement of documentation and flexible financing options with low down payment by AutoCash (Car Loan Scheme).

Faysal Bank AutoCash (Car Loan Scheme) is a best opportunity to avail a personal loan against a customer car’s worth on account to fulfill any financial needs.

Faysal Bank Auto Loan Eligibility Criteria

Items	Salaried Individuals	Self Employed Businessmen/ Professionals
Age Limit:	Up to 21 to 60 Years	Up to 21 to 65 Years
Experience in Job:	1 years in permanent job experience, 2 years in contractual employees	At least 1 years in current business or profession
Salary based Income:	At least gross salary per month: a. Permanent employee PKR 30,000/- b. Contractual employee PKR 40,000/-	At least monthly income Rs.50,000/-
Salary Account with/ without Bank of Punjab	Have to maintain salary accountwith Bank of Punjab or any other bank(s)

Faysal Bank Auto Loan Required Documents

Salaried Individuals	Self Employed Professionals/ Businessmen
One valid copy of CNIC	One valid copy of CNIC
One recent passport size photographs	One recent passport size photographs
One valid copy of utility bill of residence	One valid copy of Professional Degree
Completion of Application Form	Completion of Application Form
Salary slip (latest)	Documentation Proof of business NTN, Registration with concerned Governing body etc.
Statement of Bank (at least last 6 months, describing last 6 salary credits)	Statement of Bank for last 6 months
Validation Copies of CNIC of 2 references	Validation Copies of CNIC of 2 references

Faysal Bank Auto Loan Benefits

1)      Monthly Installment = Easy

2)      Flexible Tenures Ranging = From twelve (12) to sixty (60) months for repayments

3)      Penalty Option = A zero percent (0%) prepayment, in case of early settlement of loan.

4)      Pocketmate Visa Debit Card = Admiring current account with a Faysal Pocketmate Visa Debit Card promising internationally acceptability with special security and convenience along with online shopping privileges and withdrawals of cash.

Faysal Bank Auto Loan Markup Rates

·         Faysal Bank Auto Loan markup rate is attractive which floats from K+9.5 to K+11.5.

Faysal Bank Car Loan Interest Rate:

1.      Faysal Bank Car Loan interest rate is the actual maximum charges in the range up to PKRs. 64,000/- which is based on the charges paid to repossession agencies.

2.      Repossessed Vehicle Parking and charges of warehouse are PKRs. 3,500/-

3.      Repossessed Vehicle charges of appraisal are at actual price.

4.      Repossessed Vehicle charges of transportation are at actual price.

Faysal Bank Car Loan Calculator 2021

·         In order to know the faysal bank car loan calculator 2021, please click the link: https://www.faysalbank.com/en/auto-loan-calculator-islamic/

Faysal Bank Car Loan Minimum Income:

·         For a faysal bank car loan, the minimum income is required from PKR 50,000/- up to PKR 5,000,000/- or up to eighty five percent (85%) of a customer’s Car’s worth.

Faysal Bank Car Loan for Doctors

·         Faysal Bank salutes the real hero of the nation. Our doctors are working hard in COVID-19 battle during these tough times. As a tribute to their persistent efforts, Faysal bank offers our doctors the lowest installments in the first year on Faysal Auto Finance.

1)         For first year = Principal Payment Holiday

2)         Free Life Takaful Coverage = PRs 5 Million

3)         Quick Processing process

4)         Financing tenure = Up to 7 years

5)         Availability of facilities for new brand and Used cars.

How to Apply for Faysal Bank Car Loan

For Online Apply, please visit the link: https://www.faysalbank.com/en/personal/loans/?inpage_id=9848&apply=view

For any queries contact on 021 111-06-06-06 or email at customercomplaint@faysalbank.com